[Asia Economy Reporter Jang Hyowon] Kopra recorded a limit-up following news of its acquisition by BGF.
As of 9:05 AM on the 5th, Kopra is trading at 11,900 KRW, up 29.49% from the previous day. At the same time, BGF is also showing a rise of over 17%.
On the previous day, BGF announced that it would acquire a 44.3% stake in Kopra for 180 billion KRW through the purchase of existing shares and a third-party allotment paid-in capital increase, and invest a total of 250 billion KRW including 70 billion KRW in convertible bonds and bonds with warrants. This is the largest investment since BGF transitioned to a holding company in 2017.
Kopra is a company producing high-performance engineering plastic materials, with a portfolio in the automotive, electrical and electronics, and construction sectors. BGF plans to pioneer new markets in the functional plastic materials industry, including electric vehicles, hydrogen fuel cell vehicles, and aerospace, and to develop functional plastic recycled materials (PCR) to contribute to the realization of an environmentally friendly circular economy.
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